(VOVworld) – Prime Minister Nguyen Tan Dung’s visit to Thailand is an important event in bilateral relations. The visit aims to boost the Vietnam-Thailand Strategic Partnership in all sectors, particularly politics, security, national defense, economics, trade, investment, and labor.
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Prime Minister Prayut Chan-o-cha and Prime Minister Nguyen Tan Dung inspected the honor guard
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During his official visit to Thailand, Prime Minister Nguyen Tan Dung will attend the third Vietnam-Thailand Joint Cabinet, meet the President of the National Legislative Assembly of Thailand and the Thai Princess, and attend a Business Dialogue.
Economic cooperation is a highlight
Based on a fine political relationship, Vietnam-Thailand cooperation in all sectors has grown rapidly with economic cooperation providing momentum. Total trade revenue between the two countries increased from 9.4 billion USD in 2013 to 10.6 billion USD last year. In the first half of this year, Thailand was the 10th biggest investor of 100 foreign investors in Vietnam with a registered capital of 6.8 billion USD. Thai businesses are involved in manufacturing, agro-forestry and fishery processing, construction, and wholesale and retail trading.
Vietnam has 7 investment projects in real estate, household utensils, tourism, and computer and software production in Thailand totaling 11.35 million USD. The two countries have to raise trade revenue to 20 billion USD by 2020. Thai Ambassador to Vietnam Panyarak Poolthup said: “Thai investors are interested in doing business in Vietnam. Last year Thailand reported an export surplus to Vietnam and several Thai companies are doing business in Vietnam. Vietnam has the advantage of a qualified and abundant labor force, which will benefit Thai investors.”
Vietnam has sent a number of delegations to Thailand to study the organization and development of agricultural commodity production, rural development,
agricultural cooperatives, veterinary services, and fishery management.
Their Ministries of Education signed a Memorandum of Understanding on bilateral cooperation, in which Thailand will support Vietnam in capacity building programs and teaching Thai language at several Vietnamese universities. The two countries have exchanged delegations to share experience on fighting cross-border crimes, high-tech crimes, and human and drug trafficking.
Deepening integration in ASEAN
Vietnam becoming Thailand’s first strategic partner in ASEAN reflects Thailand’s respect for the relationship. Vietnam and Thailand have collaborated closely at regional and global forums, including ASEAN and the UN.
Both countries have been proactive in efforts to complete the ASEAN community this year. They have effectively exploited the East-West economic corridor and air routes connecting them. A bus project connecting Thailand and Vietnam and a coastal transport project connecting Thailand, Cambodia, and Vietnam are under negotiation. Ambassador Poolthup again: “The Vietnam-Thailand relationship will be important for the formation of the ASEAN community. It’s vital to extend road and river transportation between Thailand’s eastern provinces and Vietnam’s southern provinces for economic cooperation.”
The Vietnam-Thailand Joint Cabinet is an important cooperative mechanism co-chaired by the two Prime Ministers. Prime Minister Nguyen Tan Dung’s visit and the 3rd Vietnam-Thailand Joint Cabinet meeting will point to major orientations in bilateral relations and the Vietnam-Thailand strategic partnership.